The Rat Race by Emily Mcharo, CFA

The fear of being without money motivates us to work hard, once we start earning, due to our desires we start thinking about all the wonderful things money can buy. As we continue working hard and getting better pay, our desires also increase. Whatever we earn is spent and we are left with nothing.
We repeat the pattern of get up, go to work, pay our bills, get up, go to work, and pay our bills. We are therefore controlled by fear of not having money and greed of always spending. Whilst we may not enjoy our jobs; we have to continue working due to this fear and greed – this is called the “Rat Race” Even when we receive a pay rise, we continue the cycle by increasing our spending.
When we get money we are overwhelmed by the feeling of joy, desire and greed and the cycle continues. Fear keeps us in this trap of working earning money, spending it all, then working, earning money and spending it all. Money therefore takes control of our lives.
We work for money because of the things we desire, we desire money for the joy we think it can bring, but this joy is always short lived and we soon need more money for more joy, more pleasure, more comfort, and more security. So we keep working hoping the money we get will give us joy.
Once we have made some money, we are then controlled by fear of losing it – we don’t want to lose the high life money has bought us. We worry about what our friends would say if we lost all our money and had to change our lifestyle.
Whilst we all need money, our jobs may not be the solution. A job is a short term solution to a long term problem. The long term solution is to master the power of Money, instead of being afraid. If we don’t master the power of money, we will become a slave to money. We can only master the power of money if we avoid the trap caused by fear and desire. If we don’t handle fear and desire when we get rich, we will only be highly paid slaves.
Let’s not allow fear and greed to control our thinking, if our thinking is controlled by fear and greed, we will live our lives chasing paychecks, pay rises and job security in order to afford toys such as new cars, high end schools for our children, designer clothes and shoes and a bigger house to impress our friends and family.
Fear pushes us out of the door to work and desire calls to us to spend what we earn – this is the trap.

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